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This article delves into the eligibility of ITC on motor vehicles, with a particular focus on exceptions for vehicles exceeding 13 seating capacity and the scenario of renting motor vehicles.
The Income Tax Act mandates tenants to deduct Tax Deducted at Source (TDS) on rent payments under certain circumstances. This helps collect tax from landlords at the source of income. Here's a breakdown of TDS on rent under Section 194IB and 195
This article aims to demystify the GST maze for hoteliers, restaurateurs, and caterers, offering a clear and concise guide to ensure smooth compliance and maximize tax benefits.
Mukesh Harilal Mehta Vs ITO 16(3)(1) (ITAT Mumbai) Appeal Number : ITA No. 2256/MUM/2023
This article dives into the current rules surrounding GST on corporate guarantees in India, explaining the applicable rate, valuation method, and exceptions.
The Institute of Chartered Accountants of India (ICAI) is set to introduce a major reform - A Centralized NOC (Non-Objection Certificate) Policy. This policy aims to simplify the process of obtaining a NOC, a crucial document for auditors taking on new clients. Let's delve into the reasons behind this initiative and how it will benefit incoming Chartered Accountants (CAs).
Smart thinking! Advance tax can be a bit tricky, but once you understand it, it's actually a good system.
Whether you're buying from a resident Indian or a non-resident Indian (NRI) seller, different TDS rules apply, and navigating them can be tricky.
Selling a capital asset, such as a commercial property or land, often results in substantial capital gains. While exciting, these gains come with the burden of taxation. Fortunately, the Income Tax Act offers solace in the form of Section 54F, which provides an avenue for exemption on long-term capital gains arising from the sale of non-residential assets.
MFME Loan: Empowering Micro Food Processing in IndiaThe PM Formalization of Micro Food Processing Enterprises (PMFME) Scheme is a government initiative in India..
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
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